Posted by MARY on 10/9/04 11:31am
Msg #9609

UNLICENSED CLOSERS IN MARYLAND

NEED SOME ADVICE. I KNOW, FOR SURE, THAT JM CLOSING SERVICES USE UNLICENSED CLOSING AGENTS TO CLOSE AMERIQUEST LOANS. SHOULD THIS BE REPORTED TO AMERIQUEST AND THE STATE OF MARYLAND?

Reply by sue on 10/9/04 12:47pm
Msg #9611

report them to the insurance dept. TU was reported for their attempt at circumventing the requirements with their form for the borowers to sign agreeing to a nonlicensed agent.

Reply by Loretta Reed on 10/9/04 2:09pm
Msg #9614

Wow, I never imagined that this would be a problem even though I had heard that this may happen. The should be reported to the MIA (Maryland Insurance Administration). Shame on them. Even if they would have the borrower sign an agreement, it would be like "here, sign this saying that we did not smoke crack together", it is still not right. Not legal advice but sounded funny to me.

Reply by mary on 10/9/04 3:21pm
Msg #9618

how do i do this without jeopardizing myself. i don't want any retaliation.

Reply by Loretta Reed on 10/9/04 10:01pm
Msg #9628

I am not sure if you would have to give your name. It's up to you, either way they will eventually get caught. I have never personally heard of this signing company, where are the located? You can email me a [e-mail address] if you are not comfortable saying it here.

Reply by mary on 10/10/04 2:36pm
Msg #9632

jm closings is based out of the baltimore area. i believe the woodlawn area. johnathan means is the owner. he does the majority of closings for the maryland area ameriquest offices (annapolis, owings mills, timonium, frederick, greenbelt and some of rockville office). he as a lot of independent contrators working for him most of which is not licensed. this man business is closing at least 75 loans a week.

Reply by sue on 10/10/04 4:23pm
Msg #9636

if you truly want to 'get' him, put on your Nancy Drew outfit. go to the court house and look up some Ameriquest mortgages. write down the notary names. check with the MD insurance commission to see if they are licensed. if not, report them via an anonymous letter. a very general letter might be overlooked but one with specifics probably won't. do realize if you're caught you will be blackballed from some companies that don't condone this but that don't want attention drawn to our business as a whole.